Upgrades
- Corbion (CSNVY) upgraded by Berenberg from Hold to Buy
- Demant (WILYY) upgraded by JPMorgan from Neutral to Overweight
- Cogent (CCOI) upgraded by Goldman Sachs from Sell to Neutral
- XPeng (XPEV) upgraded by BofA from Neutral to Buy
- U-Blox (UBLXF) upgraded by UBS from Sell to Neutral
- Bank Jago (BJAGF) upgraded by JPMorgan from Underweight to Neutral
- Tecan (TCHBF) upgraded by Baader Helvea from Add to Buy
- Arca Continental (EMBVF) upgraded by Grupo Santander from Neutral to Outperform
- Nomura Research Institute (NRILY) upgraded by Citi from Sell to Neutral
- Liberty SiriusXM (LSXMA) upgraded by Seaport Research from Neutral to Buy
- AppFolio (APPF) upgraded by Stephens from Equal Weight to Overweight
- ArcBest (ARCB) upgraded by Wolfe Research from Peer Perform to Outperform
Downgrades
- Adyen (ADYEY) downgraded by Morgan Stanley from Overweight to Equal Weight
- Insulet (PODD) downgraded by Baird from Outperform to Neutral
- Sarcos Technology (STRC) downgraded by Jefferies from Buy to Hold
- Virbac (VRBCF) downgraded by Stifel from Buy to Hold
- Medical Properties Trust (MPW) downgraded by JPMorgan from Neutral to Underweight
- Napco Security (NSSC) downgraded by William Blair from Outperform to Market Perform
- Coca-Cola Femsa (KOF) downgraded by Grupo Santander from Outperform to Neutral
- Alsea (ALSSF) downgraded by Grupo Santander from Outperform to Neutral
- Alpha Metallurgical (AMR) downgraded by TD Cowen from Outperform to Market Perform
- Tracon Pharmaceuticals (TCON) downgraded by JonesResearch from Buy to Hold
- Napco Security (NSSC) downgraded by B. Riley from Buy to Neutral
- Napco Security (NSSC) downgraded by Lake Street from Buy to Hold
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